Now is not the time to PANIC. The stock market will swing like a pendulum as it always has. But, everyone wants to know. What is the #BlackSwan to hit the Denver Residential Market?
Right now, everything is great. Low rates and an expansion of inventory for the typical buyer. Over the last few days, we have hit 3.75% for a 30 year fixed rate mortgage! This is fantastic for a buyer. We have over 9,000 active listed resale properties for buyers to peruse. So what’s the #BlackSwan?
Well, if we look closely at this week’s MLS stats, a few things are becoming very apparent. First, all the way at the bottom. 476 Sellers have let their listings expire, and another 1,645 sellers have reduced their list price. These numbers express a lot of seller disappointment in the market place.
On the other hand, with these expirations and price reductions, 1,495 buyers have found a property to place under contract and another 1,692 have gone to closing. No #BlackSwan here!
Let’s look at all the numbers now:
New Listing (1486) Very healthy and happy for buyers.
Back On Market (295)
Price Increase (139)
Price Decrease (1645) Sellers want to get it done!
Under Contract (1495) Not a bad week, but no record setter!
Withdrawn (219)
Leased (56)
Sold (1692) I’d love to see a number like this every week!
Expired (476) Disheartened sellers are apparent in the market!
So, I know you’re waiting for my answer. What is the #BlackSwan sneaking up on us? Our #BlackSwan is affordability! Everyday, I hear over and over and over again. “Denver seems so expensive”. When affordability hits, it hits slowly. It creeps up on the market. Sooner or later, the buyer is pinched to the point of, “Let’s rent”.
Well, I don’t think this will happen immediately, but the combination of so many apartments coming on the market at the same time will be impactful, and buyers will stay on the sidelines until they perceive an affordability gap. For the time being, our #BlackSwan is on the sidelines, but always nearby, but it can approach quietly, without motion, without anyone seeing it. It will be interesting to see how our market adapts to this #BlackSwan…
As always, our job is to protect you from the #BlackSwans in the market place. Call us, let’s spend an hour coming up with plan. Dee and Tom Cryer 303-773-3399 or TheCryerTeam@Kentwood.com Thank You!
And,
be careful out there!!!
With metro-Denver housing inventory at its highest level since October 2013 and interest rates still low, now is a good time for home buyers. On the flip side, with home prices peaking now is also a good time for home sellers; making for a more balanced market. 
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Let’s jump right into it! This week’s numbers are crazy. The Denver Residential Market as presented though our MLS System by me every Tuesday has a lot to tell us this week!
Dee and I profess creating a plan. Even if the plan has a few bumps in the road along the way, its like a road map to your future. Please take advantage of our amazing service!
This week I traveled to Ouray, Colorado. (Your-Ray for the uninitiated) I have traveled around the famed Alpine Loop. This part of Colorado captures one’s imagination of Men and Women overcoming incredible odds to carve out an existence under the harshest conditions. Laboring to get men and gear up over 10-13,000 foot passes again and again and again had to have been epic!
Don’t get snowed under, give us a call, let’s create a plan and get you out of harm’s way….tc
This week, Dee Cryer, Caroline Cryer and Andrew Cryer participated in the @Triple_Bypass_. This was the 6th year in a row for Dee and Caroline. This is not an event to take lightly. Long, high altitude mountain passes, crazy weather, multitudes of other participants and needless to say the training that comes along with the plan…
“Crossing the finish line with anything as strenuous as the “Triple” without a plan, is a plan for failure. Not unlike the long and strenuous up hill grind of buying a home? Maybe, maybe not. Dee and I like to think we take the stress out of the home buying process. Even still, Location, price range and condition play a huge part in just finding a home. In the best of times, it is still be a harrowing process.
If you are ready to make a plan, learn about Denver and find the right home, please don’t hesitate and give us a call. Don’t ride alone! Dee and Tom Cryer 303-773-3399. Thank you!
MyTownCryer 
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